Developer Nexus Residential has secured a £19.5m funding package to complete a £50m residential project in the Baltic district of Liverpool. Tony McDonough reports
Nexus Residential will complete a £19.5m residential development in Liverpool’s Baltic Triangle after securing £19.5m of funding.
Nexus Residential acquired One Baltic Square from YPG Developments in March 2021. It comprises 296 one, two and three-bedroom apartments. The company is also spending £1m to create an Italian piazza-style space that will be available for residents.
It will include five blocks and commercial units. The first of the units will be completed by the end of 2022. Nexus has secured the £19.5m funding from Maslow Capital, a provider of property development finance
Nexus is partnering with Legacie Contracts, the construction arm of Legacie Developments. It is already partnering with Legacie on a £12m residential scheme in north Liverpool. One Baltic Square is being promoted by international sales agent, RWinvest. It has successfully pre-sold all the new homes off-plan.
Michael Gledhill, managing director of Nexus Residential, said: “One Baltic Square is our standout residential development in Liverpool. It will bring much needed high-quality homes to an increasingly popular part of the city.
“It has been a pleasure to work with Maslow and their professional origination team in completing the funding of this project. Maslow is a prestigious name and having them support this project and city is a significant vote of confidence.”
Rachael Gordon, head of deal Execution at Maslow Capital, added: “It has been a pleasure working with Nexus Residential on the funding of this scheme. We are pleased to support the local supply of housing with a further 296 high quality units. We look forward to working alongside Nexus Residential as the project progresses.”